Skip to main content

Bankruptcy Attorney: Mistakes You Should Avoid


Accuracy and honesty are two good characteristics when dealing with your bankruptcy case. Especially when it comes to paperwork during the filing of a bankruptcy petition because a small flaw can lead to the rejection of your case.

To truly avoid any mistakes before, during and after the legal process, you have to work with someone who has the necessary knowledge and skills about bankruptcy litigation.

When we say “someone,” it refers to an attorney who specializes in the area of bankruptcy and has a comprehensive experience in the field.

But don’t let your attorney do all the work. Read through these common bankruptcy mistakes that you should avoid committing:


1. Do not recklessly use your credit card or take out a cash advance before bankruptcy.


This is the most common mistake people do because they really believe that it’s going to be discharged either way -- which is a wrong belief. You can’t discharge a debt incurred within 90 days before you file for bankruptcy. As a result, you must pay that specific credit or cash advance.

2. Do not ever attempt to hide any property or asset from your creditors.


Another wrong belief is protecting assets such as home, car, money and jewelries by moving those out under your name and put under a family member. What do you think why the court assigns a bankruptcy trustee in your bankruptcy case?

A bankruptcy trustee keeps a sharp eye to your financial statements and anything concerning it because obviously, it’s part of their responsibility. If you are found out to keep some assets or properties hidden, you can be charged with fraud and they might reverse the transfer of the involve properties.

3. Do not withdraw money from your retirement savings account.


When you are planning to file for bankruptcy, don’t take out money from your retirement savings because you might regret it in the future. This may sound like a threat, but it’s more of a warning.

Why? Because the court might demand you to pay all the amount you withdraw added with a large tax penalty. Also, you don’t have to worry about your retirement savings because it is exempted in bankruptcy wherein your creditors can’t put their hands on it.


4. Do not keep any information concerning your case from your bankruptcy attorney.


When you want your case to work out, you have to put trust and be open with your attorney. Build rapport and effective communication so you can go on with your case smoothly.

Also, sharing information is one important way for your attorney to help you. Because you’ll never know that that small detail is the missing puzzle to create a strong legal strategy. So no matter how small or senseless an information is, keep your attorney informed.

5. Do not ignore pending lawsuits.

Your response is more important than you think. Make sure to respond to any court lawsuits and summons even before you file your bankruptcy case. So it is really helpful to hire a bankruptcy attorney immediately the moment you consider bankruptcy to protect your rights and properties you want to secure.

Keep your eyes open the whole bankruptcy process. Listen and be cooperative with your attorney if you want to have a favorable ending.


Looking for experienced and honest bankruptcy attorney Fredericksburg, VA? Visit Conway Law Group - Fredericksburg, VA at 1320 Central Park Blvd, 2nd Floor, Fredericksburg, VA 22401.


Labels:
Location: 1320 Central Park Blvd, Fredericksburg, VA 22401, USA

Comments

Post a Comment

Popular posts from this blog

What Facets to Look For In a Bankruptcy Lawyer?

Clients, who are facing bankruptcy, many of whom know little about the process and have inadequate time to research, are usually at a loss when it comes to seeking the help of an expert bankruptcy lawyer. These make declaring bankruptcy expensive and time-consuming, and have a huge impact on your credit store. This, in turn, can have far-ranging effects on other aspects of your life, such as buying a new car or home, or even applying for jobs. Here are three points to look for in finding a good bankruptcy lawyer. He or She Knows How to Communicate Communication is a two-way thing. One is where you explain your financial situation and ask relevant questions. The second, is a good Escondido bankruptcy lawyer that should be a good listener and able to answer your questions in the best way possible. Filing for bankruptcy is a process that involves a lot of paperwork. Again, it is not something that will last one day. Therefore, a good bankruptcy lawyer should return your emails ...
Post a Comment
Read more

Risks You’re Taking Without A Bankruptcy Attorney

You must have several reasons why you prefer to manage your bankruptcy filing alone and without calling for the help of an attorney. It might be that you can’t dare to entrust your case to a stranger or might be that you are very anxious about the charges. Whatever your reasons are, don’t you think you are risking more than you are saving? Don’t you think that a stranger who has the necessary knowledge and skills is the one who can truly save you. Having a bankruptcy attorney all throughout the legal process can bring you more benefits than you can expect -- emotionally, mentally, legally and even financially. Especially if you hire someone who have been practicing in the court for many years, handled hundreds of bankruptcy cases and possesses a comprehensive knowledge about the ins and outs of the court. Think twice and determine well your capability to represent yourself in the court through the following factors you might be risking if you do so: 1. You have to sacrifice...
Post a Comment
Read more

Pros and Cons of Going Bankrupt

This “B” word when mentioned always brings a negative aura, making everyone uneasy to even talk about it. Then people would think, “what a shame, they went bankrupt” or “I don’t ever want to go bankrupt.” A misconception is formed referring to bankruptcy as only about losing all your properties, assets and money -- or literally losing everything. Maybe it’s time to break such belief because bankruptcy is not all negative and damaging; there is still something good and pleasing about it. To help you realize the fact, you first have to know everything you needed to know. And to know the true nature of bankruptcy, here is a list of the advantages and disadvantages of going bankrupt before, during and after the proceedings: Advantages of bankruptcy Losing is gaining. When you undergo bankruptcy, you may suffer a loss, but what you’ll gain is really not bad. Once the proceeding is officially over, it’s also the best chance for you to start a new and better financial life. Whe...
Post a Comment
Read more